13176522
Beschreibung
Quiz von Mahmoud Hemood, aktualisiert more than 1 year ago
|
Erstellt von Mahmoud Hemood
vor mehr als 6 Jahre
|
|
Frage 1
Frage
SarbanesOxley applies to
Antworten
-
Publicly held companies
-
not for profit organizations
-
privately held businesses
-
all of these
Frage 2
Frage
"To maintain public confidence and trust in the financial reporting of companies" is the purpose of
Antworten
-
the FASB
-
the IRS
-
Sarbanes Oxley
-
GAAP
Frage 3
Frage
Which one of the following below is NOT an element of internal control?
Antworten
-
risk assessment
-
monitoring
-
information and communication
-
cost-benefit considerations
Frage 4
Frage
The objectives of internal control are to
Antworten
-
control the internal organization of the accounting department personnel and equipment
-
provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with
-
prevent fraud, and promote the social interest of the company
-
provide control over "internal-use only" reports and employee internal conduct
Frage 5
Frage
Which one of the following reflects a weak internal control system?
Antworten
-
all employees are well supervised
-
a single employee is responsible for comparing a receiving report to an invoice
-
all employees must take their vacations
-
a single employee is responsible for collecting and recording of cash
Frage 6
Frage
When a firm uses internal auditors, it is adhering to which of the following internal control elements?
Antworten
-
Risk Assessment
-
Monitoring
-
Proofs and Security Measures
-
Information and Communication
Frage 7
Frage
The portion of an invoice that is returned with payment is a
Antworten
-
remittance advice
-
voucher
-
debit memo
-
credit memo
Frage 8
Frage
A special form on which is recorded pertinent data about a liability and the particulars of its payment is called a(n)
Antworten
-
Invoice
-
Voucher
-
Debit Memo
-
Remittance Advice
Frage 9
Frage
A voucher is usually supported by
Antworten
-
A Supplier's invoice
-
A purchase order
-
A receiving report
-
All of these
Frage 10
Frage
Credit memos from the bank
Antworten
-
decrease a bank customer's account
-
are used to show a bank service charge
-
show that a company has deposited a customer's NSF check
-
show the bank has collected a note receivable for the customer
Frage 11
Frage
A bank statement
Antworten
-
is a credit reference letter written by the company's bank
-
shows a company the financial position of the bank as of a certain date
-
is a bill from the bank for services rendered
-
shows the activity that increased or decreased the company's account balance
Frage 12
Frage
The amount of deposits in transit is included on the bank reconciliation as a(n)
Antworten
-
deduction from the balance per the company's books
-
deduction from the balance per bank statement
-
addition to the balance per company books
-
addition to the balance per bank statement
Frage 13
Frage
Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the company. This item is a(n)
Antworten
-
addition to the balance per company's records
-
deduction from the balance per bank statement
-
addition to the balance per bank statement
-
deduction from the balance per company's records
Frage 14
Frage
A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n)
Antworten
-
addition to the balance per the company's records
-
addition to the balance per the bank statement
-
deduction from the balance per the bank statement
-
deduction from the balance per the company's records
Frage 15
Frage
A bank reconciliation should be prepared periodically because
Antworten
-
the company's records and the bank's records are in agreement
-
the bank has not recorded all of its transactions
-
any differences between the company's records and the bank's records should be determined, and any errors made by either party should be discovered and corrected
-
the bank must make sure that its records are correct
Frage 16
Frage
Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is
Antworten
-
a deduction from the balance per company's records
-
an addition to the balance per bank statement
-
a deduction from the balance per bank statement
-
an addition to the balance per company's records
Frage 17
Frage
A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. This item would be included in the bank reconciliation as a(n)
Antworten
-
deduction from the balance per the company's records
-
addition to the balance per the bank statement
-
deduction from the balance per the bank statement
-
addition to the balance per the company's records
Frage 18
Frage
Receipts from cash sales of $3,200 were recorded incorrectly in the cash receipts journal as $2,300. This item would be included on the bank reconciliation as a(n)
Antworten
-
deduction from the balance per company's records
-
addition to the balance per bank statement
-
deduction from the balance per bank statement
-
addition to the balance per company's records
Frage 19
Frage
Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the company. This item is a(n)
Antworten
-
deduction from the balance per company's records
-
addition to the balance per bank statement
-
deduction from the balance per bank statement
-
addition to the balance per company's records
Frage 20
Frage
The amount of the outstanding checks is included on the bank reconciliation as a(n)
Antworten
-
deduction from the balance per company's records
-
addition to the balance per bank statement
-
deduction from the balance per bank statement
-
addition to the balance per company's records
Frage 21
Frage
Accompanying the bank statement was a debit memo for an NSF check received from a customer. This item would be included on the bank reconciliation as a(n)
Antworten
-
deduction from the balance per company's records
-
addition to the balance per bank statement
-
deduction from the balance per bank statement
-
addition to the balance per company's records
Frage 22
Frage
Which of the following would be subtracted from the balance per books on a bank reconciliation?
Antworten
-
outstanding checks
-
deposits in transit
-
notes collected by the bank
-
error in recording a check for $732 as $723
Frage 23
Frage
Cash equivalents include
Antworten
-
checks
-
coins and currency
-
money market accounts and commercial paper
-
stocks and short-term bonds
Frage 24
Frage
Cash equivalents
Antworten
-
are illegal in some states
-
will be converted to cash within two years
-
will be converted to cash within 90 days
-
will be converted to cash within 120 days
Möchten Sie mit GoConqr kostenlos Ihre eigenen Quiz erstellen? eigenen Mehr erfahren.